Terra Classic (LUNC) Chances Of Revival Grow Slimmer, Here’s Why

Name	Symbol	Market	Market Cap ($)	Algorithm
Terra Luna Classic	LUNCUSD	Crypto	618,142,005	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Terra Luna Classic

LUNCUSD

Crypto

618,142,005

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00000300	2.88%	0.000107	0.000108	0.000108

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00000300

2.88%

0.000107

0.000108

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000109	0.00003	0.000104	0.000104	0.000028 - 0.000323

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000109

0.00003

0.000104

0.000028 - 0.000323

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	00:13:22	1,080,000.00	0.000107	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

00:13:22

1,080,000.00

0.000107

USD

Price x Volume	Volume	Base Symbol	Related Pairs
148,178.73	1,406,488,730.59	LUNC	LUNCEUR	LUNCGBP	LUNCBTC

Price x Volume

Volume

Base Symbol

Related Pairs

148,178.73

1,406,488,730.59

Terra Classic (LUNC) Chances Of Revival Grow Slimmer, Here’s Why

11/08/2023 12:00am

NEWSBTC

Terra Classic (LUNC) has suffered persistent declines since the network’s collapse back in 2022. These declines have ranged from its price through to the network’s Total Value Locked (TVL). And even while development abounds among its community members to try to restore it to its past glory, the numbers point to a low possibility of recovery. Terra Classic TVL Falls To All-Time Low After Terra’s crash in 2022, the network lost a significant chunk of its TVL due to investors pulling out their funds as well as developers moving their decentralized applications and protocols to other networks. Over time, there seemed to be a stable trend but once again, the network has lost out against its better counterparts. Related Reading: Cardano (ADA) Next In Line For A Rally Following Shark And Whale Buying Spree Data from the on-chain tracker DeFiLlama shows that as of Thursday, the total Terra Classic (LUNC) TVL is sitting at $2.11 million. This is notable because this is the lowest that the network’s TVL has ever been. It is also a long way from the over $20 billion all-time high TVL of the Terra blockchain before its tragic collapse. LUNC TVL falls to new all-time low | Source: DeFiLlama The vast majority of its meager TVL is spread across just two DeFi protocols: Terraswap and Astroport Classic, with $1.07 million and $933,527 in TVL, respectively. The highest that Terra’s TVL has been in 2023 is $12 million back in April 2023. Terra’s TVL has now declined by over 83% from its 2023 peaks. In the same vein, DeFiLlama shows $0 decentralized exchange (DEX) volumes over the last week, meaning that trading activity on the network has grounded to a halt. The Road To Recovery For LUNC Over the last year, the Terra community has been consistent about trying to help the network recover. However, the kind of decline that the cryptocurrency suffered as a result of the crash is not easy and near impossible to recover from. Related Reading: Crypto Analyst Says Bitcoin Could Reach $180,000 Next Cycle If This Happens Throwing in the fact that the network’s activities are almost non-existent, the chances of recovery have become even slimmer. But perhaps the biggest hindrance to its recovery is the fact that LUNC’s supply ballooned to over 6 trillion coins. Given this, even a surge to the $1 mark is out of reach for the token, unless there is a significant reduction in its supply. LUNC’s price continues to struggle at this time, trading at $0.00007746 at the time of writing. Its market cap is currently sitting at $450 million, making it the 80th-largest cryptocurrency by market cap. LUNC price trading over 99% below all-time high | Source: LUNCUSDT on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Finbold, chart from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

LUNCUSD Terra Luna Classic